Estate

Business / Taxes / Estate: Your estate is what you leave behind, financially speaking, when you die. To figure its worth, your assets are valued to determine your gross estate. The assets may include cash, investments, retirement accounts, business interests, real estate, precious objects and antiques, and personal effects. Then all of your outstanding debts, which may include income taxes, loans, or other obligations, are paid, and those plus any costs of settling the estate are subtracted from the gross estate. If the amount that's left is larger than the amount you can leave to your heirs tax free, you have a taxable estate, and federal estate taxes may be due. Depending on the state where you live and the size of your taxable estate, there may be additional state taxes as well. After any taxes that may be due are paid, what remains is distributed among your heirs according to the terms of your will, the terms of any trusts you established, and the beneficiaries you named on certain accounts — or the rulings of a court, if you didn't leave a will.

Other Words for Estate

Estate Noun Synonyms: property, holdings, domain, demesne, land, landed estate, manor, mansion
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Real Estate Recovery Fund

Business / Real Estate / Real Estate Recovery Fund: A fund established in some states from real estate license revenues to cover claims of aggrieved parties who have suffered monetary damage through the actions of a real estate licensee. MORE

Single-Estate Coffee

Life Style / Coffee / Single-Estate Coffee: Coffee produced by a single farm, single mill, or single group of farms, and marketed without mixture with other coffees. Many specialty coffees are now identified by estate name, rather than the less MORE

Institute Of Real Estate Management (IREM)

Business / Real Estate / Institute Of Real Estate Management (IREM): A national organization concerned with professional management of real estate. The professional designation conferred by IREM is ARM, Accredited Resident Manager. MORE

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